Tuesday , 21 October 2014

Youth Business Loan Scheme May Turns Interest Free

The recently introduced “Prime Minister Youth Business Loan Scheme” Chairperson Maryam Nawaz has said that the Prime Minister Mian Muhammad Nawaz Sharif has decided of granting loans to the youth through Islamic banks. Such creativity will be taken to avoid interest based finance system. She said that the step would prove to be an ending effort of the interest based finance system.
loan
Maryam Nawaz spoke of these words while talking to one of the media channel. She said that starting and promoting interest based financial system is an open war to ALLAH and Holy Prophet (Peace Be upon Him). Islam convicts the giver and payer of interest. Hence, she will not take part in such a step.

She told that talks between the Federal Finance Minister Ishaq Dar and the Prime Minister have been held. They have reached to the assumption of ending up with Islamic financing system. The loans shall be granted, without being liable to any amount of interest.

The loan scheme head further said she has initiated work in the project. Talks relating to the project with the banks are under process to transform the idea a reality.

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